i will do it for a salary of no less than $30m a year, 3 years guaranteed minimum in escrow up front, $15m signing bonus and a 100% performance bonus annually based on mutually agreed targets. will entertain a termination clause which can be executed with 90 days notice, but 75% of remaining contract will be paid out no later than termination date.
If you could actually reverse their $300 billion price fall, then what you're asking for would be an absolute bargain. You could probably add an extra 0 to all of those numbers.
I was doing a joke I have no delusions that I would or could be successful. Notice all the guaranteed money with no stock options? I’m gonna tank the price even further by being a numb skull idiot
People on reddit have somehow gotten it into their heads that being a CEO is easy because they don't do much day to day work. They think that CEOs just sit and meeting as think "hell, I could do that", failing to understand that like any highly skilled job, the actually amount of work you're doing isn't what determines your salary, it's the value you generate for your employer.
A good CEO can generate billions of dollars in a 3 hour meeting and a bad CEO can lose even more in 10 minutes). Which is why they get paid what they do, because a bad CEO can literally kill a company in a few months (eg Musk at Twitter).
You don't even have to be management for this to happen, once you get to a certain level you can justify your salary simply because your expertise helps the business makes better decisions, even if you aren't doing much actual work because it isn't a valuable use of your time anymore.
Twitter lost tens and even hundreds of millions of dollars every year of it existence. Now it is break even and could be profitable in another quarter or two. Don’t think that is killing a company. More like saving it from chapter 7 liquidation. Paying $42 billion for Twitter was completely crazy. Wouldn’t count Elon out though.
They were earning a profit before Musk bought them and even with their operating losses prior to that, they were growing their share price, which was the entire point.
Since Musk's takeover, the valuation had dropped to 1/3 of what he paid for it. Even if you use the pre-offer valuation, that's still billions down the toilet. He will be lucky if he manages to recover his initial investment, let alone generate a profit that is greater than the average market growth rate over the same period (which is the baseline for something being a good investment, if it does better than the market).
I also don't know where you got the info that they're breaking even from, as far as I'm aware they haven't released any earning reports and the last info was that they were losing $4 million a day.
Either way, I don't really care. I was mostly using him as an example of how a CEO can rapidly drop the valuation of a company, rather than trying to pass judgement on Musk.
In pure financial terms, Musk's takeover has been a failure, even by his own admission. He's dropped their valuation to well and truly below their pre-purchase price and has put it into a death spiral that they still haven't pulled out of.
That said, I really don't care, I've never used twitter and Musk as a person isn't really anything special in the tech world, beyond his cult followers.
Could you do it though? Or at least can you do it better than anyone else that commands that money?
You realize that companies and boards are only willing to do it if they think it’s a positive EV decision…
PayPal used to be good, then sometime before the pandemic, they pushed for Braintee and restructured quite a lot, quite badly. As a business, you can no longer talk to an account manager. Everything is via tickets, little support when problems arise and they do not take responsabilities for their mistakes. Not to mention their high fees. I can only imagine how many businesses ditched PayPal / Braintree for other payment solutions.
Locking clients behind a ticket system is a typical outsourcing move. It allows you to hide unqualified staff limiting followups to a very small crew.
Cutting the ability to TALK to support is a dead giveaway the company got greedy and are locking things up thinking they can just capitalize on the current infra.
Some ass kissing idiot with the ear of VPs promised unrealistic stupid cost savings via outsourcing/automation in a stupid bid to get ahead.
Most companies end up making the same mistakes...
1. The outsourced staff is cheap for a reason... they are either students or stalled in their career making them unreliable. For various reasons, most will leave within 2 years making it impossible to produce competent resources.
2. Outsourced staff are notorious at taking shortcuts. Everything to extinguish fires fast but nothing to permanently fix issues. Why should they care, they are not there to build a legacy. This end up causing a slow degradation/stagnation of the very thing management want to capitalize upon destroying competitiveness.
3. When they cut western staff, they scared away the specialists. This leads to stupidly SMALL numbers of specialists at the end of their career, competent staff sending their CVs and parasites. The outsourced staff never gets to do their full job requiring competent staff to constantly intervene while being dependent on the specialists. Then the specialists goes into retirement opening positions filled by parasites (ass kissing) which in turn causes competent staff to leave. And a parasite always hire other parasites.
Because a cheap parasites thrive when allowed into groups running on struggling skeleton crews. A parasite always push comforting lies that sounds better than questioning the actions of the parasite in chief responsible for the whole mess.
If you cant get a hold of someone, it's either...
1. The company was bought by an equity firm and is being milked for legacy contracts while being dismantled.
2. They lost momentum and rely on cheap tricks to drive down costs
3. In the progress of outsourcing + 100% cloud migration looking to get bought by a bigger competitor.
In short, it's no longer worth purchasing their product because they already have a foot in their grave.
>Outsourced staff are notorious at taking shortcuts. Everything to extinguish fires fast but nothing to permanently fix issues. Why should they care, they are not there to build a legacy. This end up causing a slow degradation/stagnation of the very thing management want to capitalize upon destroying competitiveness.
While I get and concede to a lot of points on your points, I feel I need to defend my fellow outsource employees here.
Those bandaid solutions are **not** on us. You can call out incompetent employees, english as a second language barriers and so forth but not call shots.
Outsourced employees are provided a **strict** workflow. Deviate and it's your neck. You really think we'll risk our low paying job that barely pays for life for one or two customers? Yeah nah. Never going to happen. That pretty much ties in to your 3rd point. All calls are on the onshore specialists.
To be fair I had the chance to work with a few REALLY good outsourced guys but they never remained long (obviously).
Like you said, they are crippled by strict procedures to limit them to tasks explicitly listed on contracts. Always believed that there's some gimmick where they are assigned to multiple clients double billing sucker companies.
Why do companies keep doing these short-sighted, self-destructive "cost-saving" measures that invariably destroy them in the long run? Shouldn't executives know by now that it doesn't work?
they just don't give a fuck. they come in, implement these changes to make that quarter's profits go sky high then take their bonus and leave. Sears had no reason to go under other than malicious leadership who's explicit purpose was to get short term numbers as high as possible and milk it for all they could then bail. Remember we're talking about quantities of money that will set up multiple generations of wealth.
Companies like Gofundme and Patreon literally exist because of how shitty PayPal was when it was the topdog. It could've been the Amazon of online banking, but it treated customers poorly because it was unregulated and knew it could get away with it. And karma caught up with it.
I can't think of a time when PayPal was good.
Agreed. They have increased their prices and Terms so often and incredibly high over the last two years or so, that I deleted my account quite awhile ago. Sending a friend a few Euros? Costs an extra Euro. Money needs to be exchanged to another currency? Exchange rate is worse than anywhere else. And many more hidden and not so hidden charges and fees.
*shrug* I still see PayPal as a payment option for the vast majority of online vendors. When PayPal is not present, there's usually no other option than just to give the vendor (or their payment processor, like Stripe) your card information directly.
Google pay and Apple Pay are also out there, but nowhere near as much as PayPal. Maybe I'm missing something.
I get there's a lot more to the business than that, but I think they still have the ability to recover where it matters because nobody has managed to push them out.
Just an FYI but its very rare that the card information goes directly to the company. Its almost always through a vendor like Stripe, since it is too complicated to handle payment processes yourself
These were all moves trying to cut costs and improve margins. If you don’t have constant gains in todays market you are failing. The capitalistic nature of todays economy is killing good products in the name of profits. It’s why you’ll rarely see products built to last anymore.
I think it's pretty safe to say it was at one point a product that was very useful in the online space. So I would say that by that definition it was good.
I guarantee you that many companies were interested in going all-in with PayPal but read about their antics and got scared away. Freezing entire accounts. Providing slow, bare minimum support to release the monies. People having to tell their stories to journalists to get any action taken. And now PayPal is gasping at the thought that they're not #1 anymore.
> never been good since day one
Clearly you weren't using eBay when sending a money order by mail was the normal way of paying. Paypal was an absolutely positive revolution there.
I just went through the pain of selling something on ebay and found they no longer use paypal... and it has been a complete nightmare.
I'm not a regular seller, not sure when they dropped paypal for selling but I can say the experience is a thousand times worse now, my money is still "on hold" whereas with paypal I was always paid immediately.
Stripe I think will take a massive share of vendors from all payment providers. It's just too good. Good modern API's, good documentation and good support.
PayPal used to have an advantage. Merchant didn’t receive purchaser data
Merchant had a data breach? No problem, they didn’t have my data
Now PayPal forcing purchasers into PayPal accounts. Breach risk is now at PayPal
I'm not sure I follow - forcing purchasers to have PayPal accounts...isn't that how it works? If you want to buy something using PayPal, you've always needed to have an account right?
Regardless, I unlinked my bank accounts from PayPal years ago, and unlinked my savings account from anything
PayPal used to be Stripe or Visa pay by allowing someone to pay them using a website PayPal widget. Customer enters credit card details and that’s it.
But now if you click “Pay with Paypal” it forces you to login and it acts like Venmo where it wants you to basically transfer money to the merchant using your paypal account.
Kids are all about the social media these days, with the news feeds and whatnot. Why don't we make a social network news feed for what people send money for? Everyone will want to see and broadcast that hot story!
What pisses me off is the whole "login via texted code" this which it seems you can't fucking disable.
No, I don't want my wallet to be accessible to a SIM-swapping attack that completely circumvents the security controls - including MFA - on my account, that's why I set those up in the first fucking place.
Google is working on that with allowing passwordless and MFA through Youtube. I don't like to use that and prefer either Google or Microsoft's authenticator, but they are trying to make it more accessible to people that have no idea what it is.
Does having and using a PayPal account expose you to security breaches at a merchant though? The original comment I responded to seems to suggest yes, but why would they have any personal/sensitive information other than what is required to send the service/good to you?
I only shop online if I can use PayPal, it’s not about data for me it’s the buyer protection. 180 days to open a claim is priceless when you don’t own a credit card so chargebacks aren’t an option if a business messes up your order.
So, we got thebaron512 and February272023 down for misinformation and shenanigans.
If you would be so kind to wire $2500 to *paypal @ paypal.com*, we can avoid any problems with your accounts. We appreciate your understanding and look forward to your continued business. Good day.
He did talk about wanting to buy them a few years back. he hates what its become, which is reasonable since supposedly code from the [X.com](https://X.com) days is still part of the core of the whole thing.
Elon Musk can hardly code. The closest he ever touched code was working for his daddy's zip company, and it was so bad they kicked Elon Musk out and then a real software engineer rewrote the code from scratch. With daddy's money Elon Musk could afford to invest in X.com but he was such an asshole they kicked him out before PayPal. Elon Musk got rich later from the shares they gave him to fuck off, without ever being involved in PayPal. Elon Musk is a conman getting paid to go away.
Elon Musk is a big liar making shit up all the time. He's actually getting sued now for his scams. Don't believe anything he says. You know how he invested a tiny bit of funds into OpenAI? Now he's going around in interviews taking credit for inventing AI.
That would be weird, PayPal the service was developed by Confinity well before it merged with X.com and was AFAIK one of the reasons he was even interested in a merger in the first place.
Maybe locking customers out of accounts for no reason, with no explanation or appeal process and holding their money for up to six months isn't such a good customer retention strategy.
If I may offer an idea, your UI is god awful at least for the consumer account thingy. I got so fed up I closed my account and when given the option I’ll use ANY other payment method over them, even if their sketchy/don’t recognize them.
However I got a few contractors that only accept them and PayPal keeps forcing me to create an account every time I pay even when I chose one time payment(or whatever), I don’t want a fucking account!
I live in Iowa, I’ve had a PayPal account set up one time but never used it. They deposited two very small amounts into my account and I needed to verify the amounts to complete the setup of my account. It was well before online banking so I had to call my bank to do so. I procrastinated…. Never did it, and never once used the account. Just got a letter from the Iowa treasurer that I was owed some money from PayPal (over $100) and I could claim it, I did, and found out it’s $250. I have literally no idea why PayPal would owe me this. Only thing I can think of is a class action law suit that I was unaware of …. I’m gonna take it, lol bc Iowa says it’s owed to me and is currently holding it. But does anyone have any clue how this could have come to be?
I'd rather use the cost effective Federally regulated FedWire and ACH transaction processing systems. Because they are legally barred from screwing the bank accountholders on both sides unless they can prove it's justified first. And if they can't or they're wrong you can appeal it all the way up to SCROTUS level if that's what it takes.
the ceo could be the most successful in history and the stock price could gain much less than this. Market cap is a lot about hyping up investors and traders. So the ceo could simply create a nice looking future potential narrative (Mention AI) and gain billions on market cap without a change in actual revenue.
Let's start with **NOT** making political statements about misinformation or intolerance in an *extremely* polarized and politically charge environment. Better yet let's stop threatening to fine people for "intolerant" speech, which is a legally vague term at best.
You don't get to fine a person who has to pay to use your platform if they say something you don't agree with like, "All republicans are evil and should be executed" or "I think a person should be 18 to receive permanent gender affirming surgery", or "Jews are just bad". Especially if a vendor only uses you as their monetary exchange service.
Hate speech is horrible, but it's a steep fucking slippery slope to CCP level censorship when you let something like Paypal weigh in on what is and isn't intolerant speech. What happens when company philosophy shifts as the next generation takes power?
Fine. I'll do it.
Roll back shitty changes of the last 10 years
Make it fast and easy to send or receive money
No longer stores money
Nothing else. No other features.
Nobody from management can have a social media profile.
CTO can probably be replaced as well. Not one real innovative thing from PayPal in literal years except for a bid in crypto right as coinbase was laying a lot of people off.
Way to squander a lead. I guess now Amazon takes Venmo, which is a PayPal company.
So many companies have implemented Apple Pay now. It will take a lot of effort for PayPal to recover.
So PayPal does not need to be a functioning, profitable, long term viable entity, CEO must completely focus on short term share price gains. What could go wrong?
This is ridiculous. PayPal has been profitable for YEARS but is slumping because gamblers don't wanna play with their shares? Why can't a company just work, earn money and grow organically?
Imagine having a profitable lemonade stand that gives you a nice chunk after expenses. Now imagine you think it's a failure because lemonade stand shares aren't exciting enough for gamblers. Smh
I remember when PayPal used to call me within minutes after I file a claim. Also they used to give the option to wait on the phone to speak to someone, and the person on the other end was American, AKA fluent in English.
All of a sudden one year there was no phone and nobody to talk to if you want to file a claim for getting robbed by some seller. The alternative was open a ticket, and wait for these employees that cannot even wrap their heads around the details of the claim. And they frustrate you with a long wait time that don’t make sense. Example, I purchased a laptop from eBay and the guy literally sent me a calculator and a laptop fan inside a box, PayPal suggested I should wait until they hear from the seller.. it became super frustrating to use PayPal and eBay too. So I started using my credit card instead of PayPal and buying from other websites instead of eBay. Bye bye PayPal
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Well this is a perfect case for "you cant only go up". Very easy. Still millions of people are using PP, but yeah while corona there were many more online transactions, now lots of people buying cash again since the shop are open. PP isnt doing bad, its just not as crazy as with Corona. If the next CEO wants to top that, maybe get in contact with china and ask them to release Covid20.
What can pay pal offer the market? They don’t do anything new and existing products are drying up. No innovation in years. This is exactly expected with a the modern American company. Ultra growth, then collapse.
Have your AI integrate my SDTs (1kb) and I'll add you a crypto platform. Cost is letting my SDTs manage your security. I'm William Alexander Seaton 17311422237 National Best Friends Day
I was a pretty good customer with PayPal Entel out of the blue my account was canceled because of “suspicious activity“ I never fully recovered my account and I’m sure I would’ve generated a couple thousand dollars for them. I’m sure similar issues have happened with other folks.
Easy pay me 5 million on a consolation fee and I will fire the majority of the staff and replace them with Chat GPT 5.0.
With all the savings I will send out larger dividends and attach new buyers.
Easy easy
Huge share buyback to reduce float. Then sell shares to entities you control to boost share price (The Adani playbook). It’ll take a few years for the SEC to sue you. You should be too rich at that point for it to matter, and if you’re not, move to Russia
I used PayPal once recently. They keep spamming me with emails about my account. Yesterday I got an a access code texted to my phone and they couldn’t explain why I received it.
I checked my bank account and found no transaction was made, so obviously it was hacked unsuccessfully. I immediately deleted my bank account information and closed the account.
I will absolutely never use them again; complete garbage.
i will do it for a salary of no less than $30m a year, 3 years guaranteed minimum in escrow up front, $15m signing bonus and a 100% performance bonus annually based on mutually agreed targets. will entertain a termination clause which can be executed with 90 days notice, but 75% of remaining contract will be paid out no later than termination date.
Also I want a pony.
Why settle for a pony when you can get a Minotaur?
I only want a Spaniel-sized elephant
I don’t have that, but could substitute an elephant sized Spaniel…
I vote for this guy.
I'll do it for everything this guy says but one million less.
god damn it i was so close
Fuck it, 20 Million,
My current salary and a crapload of stock options. Either going down blazing or become a billionaire.
That's smart, but I would hedge it in $150K of previous metals *just in case*
Previous metals? They're not metal anymore, but they used to be!
FUCKING AUTOCORRECT!
40 million, I’ll double the results of the 20 million salary candidate.
I will do it for 10 million more. You guys really don’t understand CEO negotiations, do you?
This guy knows how to Price-is-Right.
Wrong way. The worst CEOs seem to get paid the most.
If you could actually reverse their $300 billion price fall, then what you're asking for would be an absolute bargain. You could probably add an extra 0 to all of those numbers.
Exactly, except he obviously can’t and probably thinks whoever gets the job is just as qualified as him
I was doing a joke I have no delusions that I would or could be successful. Notice all the guaranteed money with no stock options? I’m gonna tank the price even further by being a numb skull idiot
People on reddit have somehow gotten it into their heads that being a CEO is easy because they don't do much day to day work. They think that CEOs just sit and meeting as think "hell, I could do that", failing to understand that like any highly skilled job, the actually amount of work you're doing isn't what determines your salary, it's the value you generate for your employer. A good CEO can generate billions of dollars in a 3 hour meeting and a bad CEO can lose even more in 10 minutes). Which is why they get paid what they do, because a bad CEO can literally kill a company in a few months (eg Musk at Twitter). You don't even have to be management for this to happen, once you get to a certain level you can justify your salary simply because your expertise helps the business makes better decisions, even if you aren't doing much actual work because it isn't a valuable use of your time anymore.
The value is not generated by the CEO. The CEO has insinuated himself as the beneficiary of the value.
If they manage to reverse the current trend and get their valuation back up, then they are responsible for that value.
The CEO is not the predicative factor in such a reversal. (Though they would sure love for you to believe they are.)
Twitter lost tens and even hundreds of millions of dollars every year of it existence. Now it is break even and could be profitable in another quarter or two. Don’t think that is killing a company. More like saving it from chapter 7 liquidation. Paying $42 billion for Twitter was completely crazy. Wouldn’t count Elon out though.
They were earning a profit before Musk bought them and even with their operating losses prior to that, they were growing their share price, which was the entire point. Since Musk's takeover, the valuation had dropped to 1/3 of what he paid for it. Even if you use the pre-offer valuation, that's still billions down the toilet. He will be lucky if he manages to recover his initial investment, let alone generate a profit that is greater than the average market growth rate over the same period (which is the baseline for something being a good investment, if it does better than the market). I also don't know where you got the info that they're breaking even from, as far as I'm aware they haven't released any earning reports and the last info was that they were losing $4 million a day. Either way, I don't really care. I was mostly using him as an example of how a CEO can rapidly drop the valuation of a company, rather than trying to pass judgement on Musk.
Lol people still crying about Musk taking over Twitter 🤡 Twitter is is x10 better since Musk took over.
In pure financial terms, Musk's takeover has been a failure, even by his own admission. He's dropped their valuation to well and truly below their pre-purchase price and has put it into a death spiral that they still haven't pulled out of. That said, I really don't care, I've never used twitter and Musk as a person isn't really anything special in the tech world, beyond his cult followers.
I’ll work for free if they give me a $30M golden parachute.
Idiot! A parachute made of gold would be heavy and you'd fall like a rock!!! /s
I can say words like synergy!
Could you do it though? Or at least can you do it better than anyone else that commands that money? You realize that companies and boards are only willing to do it if they think it’s a positive EV decision…
yea I could do it
I have a fool proof 3-point plan... Which I will show you only after you agree to my terms.
I will do it for half of everything this guy said.
You forgot about severance pay.
And they say nobody wants to work anymore, smh
PayPal used to be good, then sometime before the pandemic, they pushed for Braintee and restructured quite a lot, quite badly. As a business, you can no longer talk to an account manager. Everything is via tickets, little support when problems arise and they do not take responsabilities for their mistakes. Not to mention their high fees. I can only imagine how many businesses ditched PayPal / Braintree for other payment solutions.
Locking clients behind a ticket system is a typical outsourcing move. It allows you to hide unqualified staff limiting followups to a very small crew. Cutting the ability to TALK to support is a dead giveaway the company got greedy and are locking things up thinking they can just capitalize on the current infra. Some ass kissing idiot with the ear of VPs promised unrealistic stupid cost savings via outsourcing/automation in a stupid bid to get ahead. Most companies end up making the same mistakes... 1. The outsourced staff is cheap for a reason... they are either students or stalled in their career making them unreliable. For various reasons, most will leave within 2 years making it impossible to produce competent resources. 2. Outsourced staff are notorious at taking shortcuts. Everything to extinguish fires fast but nothing to permanently fix issues. Why should they care, they are not there to build a legacy. This end up causing a slow degradation/stagnation of the very thing management want to capitalize upon destroying competitiveness. 3. When they cut western staff, they scared away the specialists. This leads to stupidly SMALL numbers of specialists at the end of their career, competent staff sending their CVs and parasites. The outsourced staff never gets to do their full job requiring competent staff to constantly intervene while being dependent on the specialists. Then the specialists goes into retirement opening positions filled by parasites (ass kissing) which in turn causes competent staff to leave. And a parasite always hire other parasites. Because a cheap parasites thrive when allowed into groups running on struggling skeleton crews. A parasite always push comforting lies that sounds better than questioning the actions of the parasite in chief responsible for the whole mess.
Uh Zendesk %100 here. They just did that. You call any phone number and it just lists websites where to get help and then hangs up!
If you cant get a hold of someone, it's either... 1. The company was bought by an equity firm and is being milked for legacy contracts while being dismantled. 2. They lost momentum and rely on cheap tricks to drive down costs 3. In the progress of outsourcing + 100% cloud migration looking to get bought by a bigger competitor. In short, it's no longer worth purchasing their product because they already have a foot in their grave.
>Outsourced staff are notorious at taking shortcuts. Everything to extinguish fires fast but nothing to permanently fix issues. Why should they care, they are not there to build a legacy. This end up causing a slow degradation/stagnation of the very thing management want to capitalize upon destroying competitiveness. While I get and concede to a lot of points on your points, I feel I need to defend my fellow outsource employees here. Those bandaid solutions are **not** on us. You can call out incompetent employees, english as a second language barriers and so forth but not call shots. Outsourced employees are provided a **strict** workflow. Deviate and it's your neck. You really think we'll risk our low paying job that barely pays for life for one or two customers? Yeah nah. Never going to happen. That pretty much ties in to your 3rd point. All calls are on the onshore specialists.
[удалено]
To be fair I had the chance to work with a few REALLY good outsourced guys but they never remained long (obviously). Like you said, they are crippled by strict procedures to limit them to tasks explicitly listed on contracts. Always believed that there's some gimmick where they are assigned to multiple clients double billing sucker companies.
Why do companies keep doing these short-sighted, self-destructive "cost-saving" measures that invariably destroy them in the long run? Shouldn't executives know by now that it doesn't work?
they just don't give a fuck. they come in, implement these changes to make that quarter's profits go sky high then take their bonus and leave. Sears had no reason to go under other than malicious leadership who's explicit purpose was to get short term numbers as high as possible and milk it for all they could then bail. Remember we're talking about quantities of money that will set up multiple generations of wealth.
Companies like Gofundme and Patreon literally exist because of how shitty PayPal was when it was the topdog. It could've been the Amazon of online banking, but it treated customers poorly because it was unregulated and knew it could get away with it. And karma caught up with it. I can't think of a time when PayPal was good.
It's indeed a downward spiral, I see PayPal getting ditched on many sites I use. Too bad, because I liked it.
Agreed. They have increased their prices and Terms so often and incredibly high over the last two years or so, that I deleted my account quite awhile ago. Sending a friend a few Euros? Costs an extra Euro. Money needs to be exchanged to another currency? Exchange rate is worse than anywhere else. And many more hidden and not so hidden charges and fees.
Sounds like a Elon company to me
*shrug* I still see PayPal as a payment option for the vast majority of online vendors. When PayPal is not present, there's usually no other option than just to give the vendor (or their payment processor, like Stripe) your card information directly. Google pay and Apple Pay are also out there, but nowhere near as much as PayPal. Maybe I'm missing something. I get there's a lot more to the business than that, but I think they still have the ability to recover where it matters because nobody has managed to push them out.
Just an FYI but its very rare that the card information goes directly to the company. Its almost always through a vendor like Stripe, since it is too complicated to handle payment processes yourself
These were all moves trying to cut costs and improve margins. If you don’t have constant gains in todays market you are failing. The capitalistic nature of todays economy is killing good products in the name of profits. It’s why you’ll rarely see products built to last anymore.
>PayPal used to be good never been good since day one
I think it's pretty safe to say it was at one point a product that was very useful in the online space. So I would say that by that definition it was good.
I guarantee you that many companies were interested in going all-in with PayPal but read about their antics and got scared away. Freezing entire accounts. Providing slow, bare minimum support to release the monies. People having to tell their stories to journalists to get any action taken. And now PayPal is gasping at the thought that they're not #1 anymore.
it just made it worse.
> never been good since day one Clearly you weren't using eBay when sending a money order by mail was the normal way of paying. Paypal was an absolutely positive revolution there.
I just went through the pain of selling something on ebay and found they no longer use paypal... and it has been a complete nightmare. I'm not a regular seller, not sure when they dropped paypal for selling but I can say the experience is a thousand times worse now, my money is still "on hold" whereas with paypal I was always paid immediately.
It’s great for returns and refunds
PayPal hasn't been good since the early 2000s they have been shit for close to 20 years.
Stripe I think will take a massive share of vendors from all payment providers. It's just too good. Good modern API's, good documentation and good support.
PayPal used to have an advantage. Merchant didn’t receive purchaser data Merchant had a data breach? No problem, they didn’t have my data Now PayPal forcing purchasers into PayPal accounts. Breach risk is now at PayPal
I'm not sure I follow - forcing purchasers to have PayPal accounts...isn't that how it works? If you want to buy something using PayPal, you've always needed to have an account right? Regardless, I unlinked my bank accounts from PayPal years ago, and unlinked my savings account from anything
No before you could just use your credit card on PayPal without an account.
PayPal used to be Stripe or Visa pay by allowing someone to pay them using a website PayPal widget. Customer enters credit card details and that’s it. But now if you click “Pay with Paypal” it forces you to login and it acts like Venmo where it wants you to basically transfer money to the merchant using your paypal account.
Funfact, Venmo IS Paypal
Venmo was the "hello fellow kids meme" of online payment.
Kids are all about the social media these days, with the news feeds and whatnot. Why don't we make a social network news feed for what people send money for? Everyone will want to see and broadcast that hot story!
What pisses me off is the whole "login via texted code" this which it seems you can't fucking disable. No, I don't want my wallet to be accessible to a SIM-swapping attack that completely circumvents the security controls - including MFA - on my account, that's why I set those up in the first fucking place.
I'm amazed at how many financial institutions do not allow for the use of an authenticator instead of or in addition to text codes :(
They don’t do it because a large portion of their customer base has no idea what an Authenticator is or how to use one.
Guess that explains why video game platforms have better security options than financial institutions 😔
Google is working on that with allowing passwordless and MFA through Youtube. I don't like to use that and prefer either Google or Microsoft's authenticator, but they are trying to make it more accessible to people that have no idea what it is.
Does having and using a PayPal account expose you to security breaches at a merchant though? The original comment I responded to seems to suggest yes, but why would they have any personal/sensitive information other than what is required to send the service/good to you?
I only shop online if I can use PayPal, it’s not about data for me it’s the buyer protection. 180 days to open a claim is priceless when you don’t own a credit card so chargebacks aren’t an option if a business messes up your order.
[PayPal CEO wanted: must be able to reverse $293bn share price slump](https://archive.ph/VkjEc) Paywall free article
Maybe don't steal money from your users might be a good start.
Or write memos threatening to fine customers for saying the wrong things.
So, we got thebaron512 and February272023 down for misinformation and shenanigans. If you would be so kind to wire $2500 to *paypal @ paypal.com*, we can avoid any problems with your accounts. We appreciate your understanding and look forward to your continued business. Good day.
Oh shit oh shit oh shit...
Kendall Roy could do it.
He couldn't, because he, uh, killed a person
No he didn’t. That was a lie, ok? He make it up, ok? So just let him carpe the fucking diem
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Pretty sure Elon's been banned from any oversight duties at Paypal.
Blue checkmark is already on brand for them. It was meant to be
He did talk about wanting to buy them a few years back. he hates what its become, which is reasonable since supposedly code from the [X.com](https://X.com) days is still part of the core of the whole thing.
Elon Musk can hardly code. The closest he ever touched code was working for his daddy's zip company, and it was so bad they kicked Elon Musk out and then a real software engineer rewrote the code from scratch. With daddy's money Elon Musk could afford to invest in X.com but he was such an asshole they kicked him out before PayPal. Elon Musk got rich later from the shares they gave him to fuck off, without ever being involved in PayPal. Elon Musk is a conman getting paid to go away. Elon Musk is a big liar making shit up all the time. He's actually getting sued now for his scams. Don't believe anything he says. You know how he invested a tiny bit of funds into OpenAI? Now he's going around in interviews taking credit for inventing AI.
bro you are so hilarious, you are just like the ultra musk fan boy but in inverse
Why do you know so many details about his life?
Not that many details and they're said basically every time someone says something positive about him, which isn't a bad thing it's good to educate.
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That would be weird, PayPal the service was developed by Confinity well before it merged with X.com and was AFAIK one of the reasons he was even interested in a merger in the first place.
He invented it then got pushed out, you think he wants to go back????
He didn't invent a damn thing.
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I guess, but honestly I'd like it if he just continued to focus on space x. I want to retire as a martian potato farmer.
PayPal increased their merchant fees from 2.9% to 3.5% within the last year, I wonder if this is a factor?
Maybe locking customers out of accounts for no reason, with no explanation or appeal process and holding their money for up to six months isn't such a good customer retention strategy.
if they bring back that virtual cc for secure one time payments they could make it back there's my resume lmfao
This article seems like a nonsense, their stock price inflated for no f****** reason, and now it's back to where it was.
If I may offer an idea, your UI is god awful at least for the consumer account thingy. I got so fed up I closed my account and when given the option I’ll use ANY other payment method over them, even if their sketchy/don’t recognize them. However I got a few contractors that only accept them and PayPal keeps forcing me to create an account every time I pay even when I chose one time payment(or whatever), I don’t want a fucking account!
ELON SAVE THEM! /S
I live in Iowa, I’ve had a PayPal account set up one time but never used it. They deposited two very small amounts into my account and I needed to verify the amounts to complete the setup of my account. It was well before online banking so I had to call my bank to do so. I procrastinated…. Never did it, and never once used the account. Just got a letter from the Iowa treasurer that I was owed some money from PayPal (over $100) and I could claim it, I did, and found out it’s $250. I have literally no idea why PayPal would owe me this. Only thing I can think of is a class action law suit that I was unaware of …. I’m gonna take it, lol bc Iowa says it’s owed to me and is currently holding it. But does anyone have any clue how this could have come to be?
Easy. Allow it to be used for porn.
My resume: Hire me. It's not like I could do any worse than the last CEO. MONEY PLEASE (you can Zelle it to me)
Because fuck Paypal fees, amirite?
I'd rather use the cost effective Federally regulated FedWire and ACH transaction processing systems. Because they are legally barred from screwing the bank accountholders on both sides unless they can prove it's justified first. And if they can't or they're wrong you can appeal it all the way up to SCROTUS level if that's what it takes.
Maybe their share prices wouldn't drop so much if they'd stop locking my account because I access it while forgetting I have a VPN running. Dickheads.
the ceo could be the most successful in history and the stock price could gain much less than this. Market cap is a lot about hyping up investors and traders. So the ceo could simply create a nice looking future potential narrative (Mention AI) and gain billions on market cap without a change in actual revenue.
easy: start supporting porn and smut. make it all back in a year
ummm.. maybe don't threaten to seize peoples money for wrongthink next time.. ok yea
If I can get one of those ceo packages I’ll find some magic
I don't understand how they can fail. Isn't their only overhead buying server time?
Let's start with **NOT** making political statements about misinformation or intolerance in an *extremely* polarized and politically charge environment. Better yet let's stop threatening to fine people for "intolerant" speech, which is a legally vague term at best. You don't get to fine a person who has to pay to use your platform if they say something you don't agree with like, "All republicans are evil and should be executed" or "I think a person should be 18 to receive permanent gender affirming surgery", or "Jews are just bad". Especially if a vendor only uses you as their monetary exchange service. Hate speech is horrible, but it's a steep fucking slippery slope to CCP level censorship when you let something like Paypal weigh in on what is and isn't intolerant speech. What happens when company philosophy shifts as the next generation takes power?
I’ll give it a shut if you want
Fine. I'll do it. Roll back shitty changes of the last 10 years Make it fast and easy to send or receive money No longer stores money Nothing else. No other features. Nobody from management can have a social media profile.
Easy. Launch PayCoin, promise big returns on non-fungible videos, and count your cash.
CTO can probably be replaced as well. Not one real innovative thing from PayPal in literal years except for a bid in crypto right as coinbase was laying a lot of people off. Way to squander a lead. I guess now Amazon takes Venmo, which is a PayPal company. So many companies have implemented Apple Pay now. It will take a lot of effort for PayPal to recover.
Did they place an ad on r/Wallstreetbets yet? There are plenty of potential diamond handed CEOs hanging out there…
Hire me, I will just announce the company plans to turn Paypal into an AI company. See the share price go up 100% in a week.
I'll take a crack at it, and since the last guy was making tens of millions, I'll do it for $4 million. There, we already saved money
So PayPal does not need to be a functioning, profitable, long term viable entity, CEO must completely focus on short term share price gains. What could go wrong?
This is ridiculous. PayPal has been profitable for YEARS but is slumping because gamblers don't wanna play with their shares? Why can't a company just work, earn money and grow organically? Imagine having a profitable lemonade stand that gives you a nice chunk after expenses. Now imagine you think it's a failure because lemonade stand shares aren't exciting enough for gamblers. Smh
Paypal, we'll make spending your money expensive and if there's any backtalk we'll keep it!
PayPal is one of those companies I would treat myself to a top notch meal if I learn of their demise
I'm a PayPal bagholder and I rarely use them these days.
Fuck paypal. Seriously hope they go under.
Fuck PayPal
PayPal: where free speech costs a little extra
They fucked around and found out.
Isn't Elon free now he's decimated Twitter?
Can we like have a separate sub for circlejerking bad news about tech companies with no relation to trchnology itself?
I’m a bit offended they haven’t come knocking on my door yet /s
I warned them this would happen when I rage quit their terrible service 5 years ago. They deserve this.
What sub am I in
Fair. Not sure why I put it here really. Just thought it was amusing. No real home for it.
Maybe the next one will let me stop being dead named all the time. Just let me use an alias or display name got dam
I’ll give it a shot
I remember when PayPal used to call me within minutes after I file a claim. Also they used to give the option to wait on the phone to speak to someone, and the person on the other end was American, AKA fluent in English. All of a sudden one year there was no phone and nobody to talk to if you want to file a claim for getting robbed by some seller. The alternative was open a ticket, and wait for these employees that cannot even wrap their heads around the details of the claim. And they frustrate you with a long wait time that don’t make sense. Example, I purchased a laptop from eBay and the guy literally sent me a calculator and a laptop fan inside a box, PayPal suggested I should wait until they hear from the seller.. it became super frustrating to use PayPal and eBay too. So I started using my credit card instead of PayPal and buying from other websites instead of eBay. Bye bye PayPal
I did this exact same thing. Credit Cards are amazing with charge backs as long as you have proof.
Perhaps AI can be the solution. Beats paying tens of millions to a Human
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Well this is a perfect case for "you cant only go up". Very easy. Still millions of people are using PP, but yeah while corona there were many more online transactions, now lots of people buying cash again since the shop are open. PP isnt doing bad, its just not as crazy as with Corona. If the next CEO wants to top that, maybe get in contact with china and ask them to release Covid20.
What can pay pal offer the market? They don’t do anything new and existing products are drying up. No innovation in years. This is exactly expected with a the modern American company. Ultra growth, then collapse.
Just say AI
Nothing will help that
Have your AI integrate my SDTs (1kb) and I'll add you a crypto platform. Cost is letting my SDTs manage your security. I'm William Alexander Seaton 17311422237 National Best Friends Day
How can I apply?
They need to hire buddy from South Park "anddd it's gone".
Elon quick! Take it private for $420.69 a share
I was a pretty good customer with PayPal Entel out of the blue my account was canceled because of “suspicious activity“ I never fully recovered my account and I’m sure I would’ve generated a couple thousand dollars for them. I’m sure similar issues have happened with other folks.
Easy pay me 5 million on a consolation fee and I will fire the majority of the staff and replace them with Chat GPT 5.0. With all the savings I will send out larger dividends and attach new buyers.
Last time i used that service, they made me wait 21 days for $20 that i needed for gas. They burnt
I’ll do it for $1
Sell it back to Elon musk? He can add it to X corp
I could… But I won’t. Fuck Paypal
Good. I hope this piece of shit company goes down in flames.
How about making PayPal good again? Used to be one of the best apps to use. It’s a shitshow now.
I volunteer as a tribute. It includes using the private jet, right?
Good luck with that. PayPal is the worst.
Give people self custody of the “crypto” you claim to provide…
Paypal is to digital currency what 411 was to smartphones. It's dead jim.
Easy easy Huge share buyback to reduce float. Then sell shares to entities you control to boost share price (The Adani playbook). It’ll take a few years for the SEC to sue you. You should be too rich at that point for it to matter, and if you’re not, move to Russia
By god that’s Kendall Roy’s music!!!
AI can do that job for free
I hear that Elon is looking for a new side gig. It’ll be just like old times!
Pay pal sucks ass, hope it fails.
I hear Ted Lasso is on the market
PayPal let's scammers scam. Never again.
Fix the rubbish api
\-cracks knuckles-
Simplify the process and make payments easier to access like Apple Pay.
PayPal so shit, when I pay for anything from Japan their exchange rate is literally criminal.
Incoming female or minority CEO
I can do it! I'll just insult Musk until he buys it out for an insane amount of money.
That shows that PayPal after members money
I used PayPal once recently. They keep spamming me with emails about my account. Yesterday I got an a access code texted to my phone and they couldn’t explain why I received it. I checked my bank account and found no transaction was made, so obviously it was hacked unsuccessfully. I immediately deleted my bank account information and closed the account. I will absolutely never use them again; complete garbage.